{"id":33186,"date":"2023-11-30T04:13:25","date_gmt":"2023-11-30T04:13:25","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/11\/30\/bitcoin-price-consolidates-why-100-sma-could-spark-fresh-increase\/"},"modified":"2023-11-30T04:13:25","modified_gmt":"2023-11-30T04:13:25","slug":"bitcoin-price-consolidates-why-100-sma-could-spark-fresh-increase","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/11\/30\/bitcoin-price-consolidates-why-100-sma-could-spark-fresh-increase\/","title":{"rendered":"Bitcoin Price Consolidates \u2013 Why 100 SMA Could Spark Fresh Increase"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth failed once more to clear the $38,500 resistance zone. BTC is consolidating above the 100 hourly SMA and would possibly try one other improve.<\/em><\/p>\n<ul>\n<li>Bitcoin continues to be dealing with heavy resistance close to the $38,500 zone.<\/li>\n<li>The worth is buying and selling above $37,400 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a key bullish development line forming with help close to $37,350 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might make one other try to clear the $38,500 resistance until it breaks under $37,350.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin worth remained well-bid above the $37,500 help zone. BTC climbed larger above the $38,000 degree and made one other try to clear the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-avoids-collapse-38500\/\" target=\"_blank\" rel=\"noopener\">$38,400 resistance zone<\/a>.<\/p>\n<p>However, the bulls failed to realize power and the value peaked close to $38,400. It is once more correcting features and buying and selling under the 23.6% Fib retracement degree of the upward transfer from the $36,721 swing low to the $38,390 excessive.<\/p>\n<p>Bitcoin is now buying and selling above $37,400 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-grinds-lower-35k\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. There can be a key bullish development line forming with help close to $37,350 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, quick resistance is close to the $38,200 degree. The first main resistance is forming close to $38,400. The essential resistance continues to be close to the $38,500 degree. A detailed above the $38,500 resistance would possibly begin a recent rally.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468\"><img decoding=\"async\" class=\"alignnone size-full wp-image-563111\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-26.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent key resistance may very well be close to $39,200, above which BTC might climb towards the $39,500 degree. Any extra features would possibly ship BTC towards the $40,000 resistance.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $38,400 resistance zone, it might begin one other decline. Immediate help on the draw back is close to the $37,550 degree or the 50% Fib retracement degree of the upward transfer from the $36,721 swing low to the $38,390 excessive.<\/p>\n<p>The subsequent main help is close to $37,350 and the development line. If there&#8217;s a transfer under $37,350, there&#8217;s a danger of extra downsides. In the said case, the value might decline towards the $36,720 help within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $37,550, adopted by $37,350.<\/p>\n<p>Major Resistance Levels \u2013 $38,400, $38,500, and $39,200.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-37550\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth failed once more to clear the $38,500 resistance zone. BTC is consolidating above the 100 hourly SMA and would possibly try one other improve. Bitcoin continues to be dealing with heavy resistance close to the $38,500 zone. The worth is buying and selling above $37,400 and the 100 hourly Simple transferring common. 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